Area existing-home sales tick up for second straight month

Sales of existing single-family homes rose 1.5% in central Indiana in October—the second straight month of increased sales, but only the third this year.

Completed sales in the 16-county area rose from 3,055 in October 2018 to 3,100 last month, according to the latest data from the MIBOR Realtor Association.

October’s increase followed a 1.8% year-over-year rise in September, a 1.2% decline in August, a 3.6% increase in July, a 6.9% slide in June, a 2.6% decrease in May, a 1.9% dip in April, a 3.6% drop in March, a 2.3% fall in February and an 8.3% contraction in January.

On a year-to-date basis, closed sales are down 1.3% in the area, to 30,413.

The total number of active home listings in the region fell 5.8% on a year-over-year basis, to 6,499 at the end of last month. New listings were up 2.1%, to 3,608.

The median sales price for an existing single-family home increased 9.2%, to $191,150.

Homeowners across central Indiana in October got an average of 97.4% of their original list price when selling their houses. That was down from 97.5% in September.

Homes spent an average of 43 days on the market, down from 47 a year ago.

Pending home sales were up 12% in October on a year-over-year basis, to 3,070.

Marion County

In Marion County—the most active market in central Indiana—closed sales in October decreased 4.4%, to 1,166.

The median sales price in the county spiked 8.0%, to $162,000. New listings rose 4.6%, to 1,466.

The inventory of available single-family detached houses in Marion County fell 2.1%, to 2,443.

Other area counties

In Hamilton County, sales were up 8.1%, to 546, in October. The median sales price jumped 7.6%, to $306,750. The inventory of single-family detached houses fell 3.4%, to 1,298.

In Hendricks County, sales soared 24.2%, to 287, and the median sales price increased 14.1%, to $228,000.

In Johnson County, sales ticked up 1.9%, to 264, and the median sales price rose 7.7%, to $198,250.

Sales in Boone County fell 2%, to 98, while the median price of a home rose 16.4%, to $267,185.

Hancock County sales jumped 23.1%, to 133, and the median price rose 8.9%, to $207,000. Closed sales in the county are up 11.5 percent through the first 10 months of 2019, to 1,268.

Sales were down 5.8% in Madison County, to 147. The median sales price increased 26.6%, to $137,000.

Morgan County sales were down 4%, to 96, and the median sales price rose 11.3%, to $188,000.

Shelby County saw 40 closed home sales in October, down from 44 the previous year. The median price rose 13.6%, to $152,500.

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